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Tradelab Pi Review

Tradelab Pi is front-end trading software offering web, mobile and desktop trading terminal to retail traders in India. Pi is offered by over 10 stockbrokers to their retail customers for online trading. The software is customized and personalized for each of the customers based on the requirements.

Pi is one of the most advanced trading platforms available in India. The trading platform was built in 2015 using the latest internet technologies.

Build on top of Omnesys NEST API, OMS, and RMS system, Pi offers elegant, fast and secure online trading experience across devices and apps.

Trading Platform Owner

Tradelab Software Pvt. Ltd.

Incorporated in 2012, Tradelab Software Pvt. Ltd. is a Bangalore, India based software company offering stock trading software and tools.

Tradelab was incubated by IIT Kharagpur. It is the brainchild of Sandeep Mishra and Biplab Sinha. They were later joined by Satish Kumar, Rakesh Ranjan, Dilip Kumar Singh, and Sanjeet Kumar.

Tradelab builds advanced software and tools for stock brokers. They launched their first product Pi, a frontend trading platform for online trading, in March 2015. As of Jan 2019, the company has over 10 online brokers as customers. Zerodha, the leading discount stock broker was one of the early customers of Tradelab.

Tradelab also provides consultancy services to brokers in developing their existing software and to make it more user-friendly.

Tradelab Pi Product Highlights

• Pi is designed, built and maintained by Tradelab Software Pvt Ltd.
• Pi is front-end trading software only. It uses Omnesys RMS and OMS which makes it secure and powerful.
• Pi is available as a mobile app, desktop trading terminal, and browser-based trading website.
• Pi's user interface is simple, fast and elegant.
• Pi is offered by multiple stock brokers including Zerodha, Aliceblue, Trustline, SASOnline, Adroit, Religare and MasterTrust.
• It supports multiple exchanges (NSE, BSE, and MCX) and segments (Equity, F&O, Currency, Commodity).
• Advance order types such as Bracket Order, Cover Orders and After Market Orders are available.
• 80+ Technical Indicators for Technical Analysis.
• 10 types of charts such as Candle, Bar, Heikin-Ashi, etc.

Tradelab Pi Key Features

• Switch seamlessly between web, mobile and desktop.
• Get real-time market information about market indices, stocks and F&O contracts.
• Create customize market watch and see market depth with just one click.
• Trade across asset classes and stock exchanges (i.e. BSE, NSE and MCX) from the single trading platform.
• Trade using advance order types i.e. CO and BO.
• View reports including open positions, trade history and order history. Manage all your orders in one place.
• Analyse stocks using candle charts with various studies to analyze the market.
• Create custom alerts.
• The Pi Installable Trading Terminal has advanced features including
  • Advanced charting
  • Keyboard shortcuts
  • Strategy back-testing
  • Consensus report,
  • Multiple window cascading
  • Order from charts
  • Technical analysis with 80+ technical indicators
  • Free historic data for back testing.

Tradelab Pi Features Explained

Key features of Tradelab Pi installable desktop terminal are described as below:

• Market Watch

  Market watch is the most commonly used feature of a trading app. Pi offers key market watch features like:

  1. Setup a portfolio by choosing scrips.
  2. Configure column of choice in the desired sequence.
  3. Organize scrips using drag and drop.
  4. Open order entry window, market depth window, pending order window etc. directly from the market watch.
• Charts

  Charts are a critical feature of Pi. Following are the chart offering by Pi desktop app:

  1. 10 types of charts such as Candle, Bar, Heikin-Ashi, etc
  2. 80+ Technical Indicators for Technical Analysis
  3. Place orders through the chart.
  4. Several drawing tools for analysis
  5. For bar and candle charts, day separator feature is available.
  6. Chart setting screens to setup Periodicity, Interval, and no. of Days/Months for the selected scrip.
  7. Ability to change default candle style to other chart styles.
  8. Other charts features
     • Day Separator
     • Pivot Point
     • Data Box
     • Cross Hair
     • Home Key
     • End Key
• Workspaces

  Pi users can save and load workspaces. Workspace allows saving the symbol list and charts. Pre-define workspaces i.e. Nifty 50, BSE Auto are also available to uses.

• Advance Order Type

  Pi offers advance order types like:

  • Normal Orders
  • Cover Orders(CO)
  • Bracket Order(BO)
  • After Market Orders(AMO)
• Reports

  Pi offers a range of useful reports including:

  • Order History
  • Trade Book
  • Positions
  • Demat Holdings
• Other Key Features
  • Alerts
  • Stock Scanner
  • Back Testing of trading strategies

Tradelab Pi Trading Platform Demo

Visit the stock broker who offers Pi trading platform to get the demo.

Products Offered by Tradelab Pi

Pi offer a range of products for trading.

1. CNC (Cash & Carry or Delivery Order)

   For trading Equity in the delivery segment.

2. MIS (Margin Intraday Square Off Order)

   For intraday trading in equity and F&O segments. All MIS trades are squared off automatically at the end of the trading session if not closed by the customer.

3. NRML (Normal or Carry Forward Order)

   Normal orders are used for an overnight position in Equity F&O, Currency F&O, and Commodities F&O. Orders placed under NRML products are not squared off at the end day.

4. BO (Bracket Order)

   A Bracket Order is an advance order which allows traders to take an intra-day position and take advantage of extra exposure while being protected through a stop loss order and a profit booking order.

5. CO (Cover Order or Margin Plus Order)

   A cover order is an advance order in which buy/sell order is automatically placed along with a stop-loss order in a single click. CO allows trading with higher exposure as it minimizes the risk.

6. BTST (Buy Today Sell Tomorrow Order)

   Also known as PTST (Purchase today sell tomorrow) or ATST (Acquire Today Sell Tomorrow). This order allows the trader to sell shares one day after the buy order, without waiting for shares being credited to demat account from buy order. In this case, the trader doesn't have to wait for T+2 days to sell.Technically, BTST order gives 2 extra days to the intraday traders. This increases the probability of a better return.

In simple words it allows you to sell before getting delivery of the stock to your demat account.

Order Types Offered by Tradelab Pi

Tradelab Pi provides many order types, some are:

1. Limit Orders
2. Market Orders
3. Stop Loss Orders
4. Stop Loss Market Orders
5. Cover Orders
6. Bracket Orders
7. After Market Orders

1. Limit Orders

   In a limit order, the trader decides the price. When the price of the order is equal to the limit price, the order is executed.

2. Market Orders

   Instead of any limit, this order gets executed when they find a buyer or seller on the other hand.

3. Stop Loss Orders (SL)

   In this position, the traders specify the price for exiting a position.

4. Stop Loss Market Orders (SL-M)

   This is an exit trigger price specified by the trader for exiting a position.

5. Cover Orders (CO)

   This helps intraday traders to place cover order of buy/sell along with a compulsory stop loss order in a pre-defined range as already mentioned by the system.

6. Bracket Orders (BO)

   The trader can bracket the order with two opposite orders of low side and high side to limit loss and lock profit in a range.

7. After Market Orders (AMO)

   This order facilitates traders to place the order when the market is closed. When the trader places such order, it is queued up till the market opens and the order gets executed.

Tradelab Pi User Customization Options

Some of the personalized settings:

• Create Scrip alerts.
• Custom Indicators.
• Customize colour coding, filters and dashboard

Tradelab Pi Reports

• Order Book

  This shows the status of the placed order. The user can modify the data from this report directly.

• Trade Book

  This report will be opened by simply selecting the menu under market watch toolbar or using short cut keys. It will show all the executed orders from the scrip.

• Net Position

  To watch the net window position, the user can press F11 or navigate under market watch toolbar. It provides consolidated information about net positions. The user can apply filters based on day-wise, net-wise, opt, exchange, segment, product tag and of any choice. The user can also square off the position.

• Order History

  This report will show information about all the order placed through Tradelab Pi.

• Demat Holdings

  With demat holdings; the user can watch the equity holdings in the Demat account. Viewing t1 holdings are also possible under demat holdings menu.

Tradelab Pi Charges / Fees

Pi is made available for free of charge to all the customers.

Brokers using Tradelab Pi

• Discount Broker: Zerodha, Aliceblue, Trustline, SASOnline

• Full-service Brokers: Adroit, Religare, MasterTrust